Marshall Wace LLP Sells 10,707 Shares of Albany International Corp. (NYSE:AIN)

Marshall Wace LLP decreased its holdings in Albany International Corp. (NYSE:AIN - Free Report) by 79.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 2,770 shares of the textile maker's stock after selling 10,707 shares during the period. Marshall Wace LLP's holdings in Albany International were worth $222,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Smartleaf Asset Management LLC grew its position in Albany International by 306.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 667 shares of the textile maker's stock worth $53,000 after acquiring an additional 503 shares during the last quarter. Sterling Capital Management LLC grew its position in Albany International by 735.6% during the 4th quarter. Sterling Capital Management LLC now owns 752 shares of the textile maker's stock worth $60,000 after acquiring an additional 662 shares during the last quarter. Vestcor Inc bought a new stake in Albany International during the 4th quarter worth $70,000. Covestor Ltd grew its position in Albany International by 110.4% during the 4th quarter. Covestor Ltd now owns 888 shares of the textile maker's stock worth $71,000 after acquiring an additional 466 shares during the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in Albany International during the 4th quarter worth $88,000. Institutional investors own 97.37% of the company's stock.

Albany International Trading Up 0.6%

AIN traded up $0.41 during midday trading on Friday, hitting $65.62. 200,724 shares of the company were exchanged, compared to its average volume of 204,906. The firm has a market capitalization of $1.98 billion, a P/E ratio of 20.51 and a beta of 1.37. Albany International Corp. has a 1-year low of $57.71 and a 1-year high of $95.47. The firm's 50 day moving average price is $67.62 and its 200-day moving average price is $75.67. The company has a quick ratio of 2.94, a current ratio of 3.68 and a debt-to-equity ratio of 0.36.

Albany International (NYSE:AIN - Get Free Report) last announced its earnings results on Wednesday, April 30th. The textile maker reported $0.73 EPS for the quarter, beating the consensus estimate of $0.58 by $0.15. Albany International had a return on equity of 12.20% and a net margin of 7.92%. The company had revenue of $288.77 million for the quarter, compared to analyst estimates of $300.74 million. During the same quarter in the prior year, the company earned $0.90 EPS. The firm's revenue for the quarter was down 7.8% compared to the same quarter last year. As a group, equities analysts forecast that Albany International Corp. will post 3.23 EPS for the current fiscal year.

Albany International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 7th. Investors of record on Friday, March 21st were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, March 21st. This represents a $1.08 annualized dividend and a dividend yield of 1.65%. Albany International's payout ratio is 43.55%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on AIN shares. Truist Financial reduced their price objective on Albany International from $88.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Robert W. Baird reduced their price objective on Albany International from $104.00 to $92.00 and set an "outperform" rating on the stock in a research report on Friday, February 28th. Bank of America reduced their price objective on Albany International from $80.00 to $75.00 and set an "underperform" rating on the stock in a research report on Tuesday, March 25th. StockNews.com downgraded Albany International from a "buy" rating to a "hold" rating in a report on Thursday. Finally, JPMorgan Chase & Co. cut their target price on Albany International from $75.00 to $74.00 and set a "neutral" rating on the stock in a report on Wednesday, January 15th. One analyst has rated the stock with a sell rating, two have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $80.40.

About Albany International

Albany International Corp., together with its subsidiaries, engages in the machine clothing and engineered composites businesses. The company operates in two segments, Machine Clothing (MC) and Albany Engineered Composites (AEC). The MC segment designs, manufactures, and markets paper machine clothing for use in the manufacturing of papers, paperboards, tissues, towels, pulps, nonwovens, building products, tannery, and textiles, as well as fiber cement and several other industrial applications.